Microsoft will spend $500 million to help solve Seattle housing crisis

Microsoft has announced that it is pledging $500 million to help solve the Seattle housing crisis, which was created by tech companies in the area as they are concentrated there.

This have driven the prices of the houses up considerably and meant that normal people like teachers, nurses and more are being priced out of the housing market.

Microsoft will use the $500 million to try and help resolve the issue, the company will len $225 million to developers to create middle income housing for household making between $62,000 and $124,000 a year.

They are also going to use $250 million of the money to help develop lower income housing which is for households making up to $48,150.

The remaining $25 million will be used as philanthropic grants to address homelessness in Seattle, you can find out more details about the link below.